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Madison Air Solutions (MAIR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Madison Air Solutions (MAIR) Q3 2026 earnings results →
Q3 2026 Revenue up 25% year over year to $1.1B · 10¢ of every $1 of revenue kept as net profit · operating margin 19.1%
Madison Air Solutions made $1.1B in Q3 2026 (+25% Y/Y): Commercial $772M, Residential $355M. Operating margin 19.1%, net earnings $107M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.1B in Q3 2026, up 25% year over year and up 14% from the previous quarter. Commercial was the largest line at 69% of revenue. Commercial added $0.22B year over year (up 39%), 95% of the total change.
Operating profit was $0.21B, a 19.1% margin (down 1.1 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, below the 20% margin then. Total costs grew 27% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+38%). Net earnings were $0.11B, up 140% year over year. The effective tax rate was 15.8%.
Operating cash flow was $0.17B (down 1% year over year), 160% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.01B left free cash flow of $0.16B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $1.1B | +25% | 19.1% | $107M | $172M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $991M | +21% | 19.7% | $69.2M | — |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Madison Air Solutions
Madison Air (NYSE: MAIR) is an air quality solutions provider serving priority commercial and residential markets. Through its portfolio of trusted brands, including Addison, AprilAire, Big Ass Fans, Broan-NuTone, Nortek Air Solutions, Nortek Data Center Cooling and Reznor, the Company helps customers improve performance, protect critical assets and create healthier indoor environments. Madison Air's mission is to make the world safer, healthier and more productive through the power of better air.
In its own words, from its 8-K, filed Jul 30, 2026.
Madison Air Solutions against its Industrial & Commercial Fans & Blowers & Air Purifing Equip peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +25% against the peers' median +24%. Operating margin: 19.1% against the peers' median 7.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MAIR Madison Air Solutions | Q3 2026 | $1.1B | +25% | 19.1% |
| DCI Donaldson | Q4 FY26 | $1.1B | +8% | 16.7% |
| CECO Ceco Environmental | Q2 2026 | $285M | +54% | -11.6% |
| PPIH Perma-Pipe International Holdings | Q2 FY27 | $59.6M | +24% | 7.1% |
| FTEK Fuel Tech | Q3 2026 | $8.7M | +16% | -6.0% |
Source: Madison Air Solutions 10-Q on SEC EDGAR · CIK 2098430 · Industrial & Commercial Fans & Blowers & Air Purifing Equip
13F: who owns MAIR and who is buying
More on MAIR
- How Madison Air Solutions makes money: revenue by segment
- Madison Air Solutions next earnings date and what analysts expect
- Madison Air Solutions stock forecast, price target and fair value
- Who owns Madison Air Solutions stock: holders, funds and Congress trades
- Madison Air Solutions guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results